Cyprus Business News

Businesses in Limassol report little change compared to a year ago, according to the autumn 2024 business barometer. While optimism has improved slightly, labour shortages, rising costs, and Environmental, Social, and ...

The Cypriot real estate market is expected to face a turning point in 2025, with growth slowing after years of post-pandemic expansion, according to according to property firm Danos International. The ...

The value of wholesale trade activities in Cyprus saw an increase in the third quarter of 2024 compared to the same period last year, according to the state’s statistical service. ...

The Cyprus Securities and Exchange Commission (CySEC) disseminated this week an announcement from the European Securities and Markets Authority (ESMA), emphasising the ongoing risks associated with crypto-assets despite a surge ...

Cyprus’ Fiscal Council released its final 2024 report on Monday, delivering a comprehensive analysis of the nation’s economic trajectory. While acknowledging the country’s robust growth and fiscal prudence, the ...

Cyprus has pledged €7.16 million to the International Development Association (IDA) during a meeting held in Seoul, South Korea, on December 5, 2024. The commitment is part of a broader fundraising initiative for ...

The Cyprus Securities and Exchange Commission (CySEC) on Monday published a practical guide to help regulated entities meet their obligations in combating the financing of weapons of mass destruction. The ...

Balram Chainrai has acquired 2.67 per cent of Agros Development Company ‘Proodos’ Public Ltd, the owner of the Rodon hotel in Agros, purchasing 95,974 shares at €3 each, according to an announcement on ...

Cyprus’ apartment market contrasts sharply, with Limassol’s luxury prices reaching €5 million, while Nicosia offers affordable options starting at €50,000, according to real estate analytics firm Ask Wire. The firm explained ...

The Cypriot government and Hermes Airports signed a new agreement on Monday, extending the management of Larnaca and Paphos airports until 2033. The deal resolves longstanding financial disputes and paves the ...

Cyprus’ Fiscal Council released its final 2024 report on Monday, delivering a comprehensive analysis of the nation’s economic trajectory. While acknowledging the country’s robust growth and fiscal prudence, the ...

Invest Cyprus on Monday announced the signing of a memorandum of understanding (MoU) with the Cyprus Space Exploration Organisation (CSEO). The agency, tasked with the purpose of driving foreign investment ...

Here are the top business stories in Cyprus from the week starting December 16: Limassol’s share of the 2025-2027 state budget has drawn the ire of the Limassol Chamber of ...

Bank of Cyprus and Hellenic Bank on Friday announced a new raft of measures aimed at supporting vulnerable borrowers. The developments come after meetings at the presidential palace earlier in ...

Cyprus’ general government recorded a surplus of €867.5 million during the third quarter of 2024, according to preliminary data released on Friday by the state’s statistical service. This figure remains close ...

The Central Bank of Cyprus (CBC) on Friday said that it is assessing the capital needs of banks in light of escalating macroeconomic and geopolitical risks. Speaking during a briefing ...

Tourist arrivals in Limassol are rising, offsetting the loss of the Russian market, according to Anthi Theocharous, VP of Tourism at the Limassol Chamber of Commerce (Evel). “Limassol absorbed a ...

Cyta on Friday announced that it will adopt digital identity verification through the government’s Digital Citizen application This new service will start on December 23, 2024, with Cyta saying that this ...

Hoteliers in Kato Pyrgos Tilliria raised key concerns over staffing, connectivity, and beach upgrades during a meeting with Deputy Minister of Tourism Costas Koumis on Thursday. According to a statement, ...

The Cabinet has approved a new De Minimis Grant Scheme to support Cypriot businesses in participating in international trade fairs, following a proposal by Energy Minister George Papanastasiou. The scheme, ...

The Central Bank of Cyprus (CBC) has revised its GDP growth forecast for 2024 upwards by 0.2 percentage points, now expecting growth of 3.7 per cent. The revision is attributed to stronger domestic ...

The Central Bank of Cyprus (CBC) on Friday announced the launch of a comprehensive licensing and supervisory strategy aimed at enhancing oversight and governance of electronic money institutions and payment ...

Cyprus’ adoption of the 15 per cent minimum tax for multinationals entails both challenges and opportunities, according to Stelios Violaris, Tax Advisory Services Partner at PwC Cyprus. Violaris also highlighted the ...

The workforce in Cyprus’ broader public sector totalled 73,137 employees in the third quarter of 2024, according to a report released this week by the Cyprus Statistical Service (Cystat). For the first ...